• Type of borrowing: A standard category that includes various forms from credit, such as mortgage loans, auto loans, figuratively speaking, and private financing. Understanding the sorts of credit readily available can help you create told economic choices.
• Mortgages: Financing taken out to shop for property. The brand new borrower will pay the financial institution monthly, usually layer each other principal and you may desire.
• Auto loans: Financing on purchase of an automobile. Consumers usually pay their lenders frequently, in addition to one another dominant and you will attract.
• Figuratively speaking: Financing removed to cover college tuition like university fees, charge, and you may living expenses. The debtor pays the lending company monthly, will layer the prominent and the attention.
• Signature loans: A loan that’s not to have a specific goods, such as for example a property otherwise auto. Prominent and you can appeal are usually paid back monthly because of the borrower in order to the lending company. อ่านเพิ่มเติม →